My view is different. I think the fixation on endless editions in role-playing games exhausts the brand at a certain point. There is certainly a period where the game can be improved, but at a certain point, the lack of stability of what actually constitutes the game will catch up and undermine the game and, in the case of D&D, the community. Now, if an update could be done that would not require everything (Monster Manual, all of the adventure paths, the campaign settings, the supplements, etc.) to be updated for a new edition, I would feel different, but at this point, I think there is far too much to gain for the game designers to take the game and the storylines in directions it has never been before, rather than try to reiterate the game itself yet again. I see no reason why the game could not continue as it is for years and years, there is a vast amount of imaginative terrain that has not been touched.
Not to mention, I would love to see Wizards of the Coast publish different role-playing games as well.